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November 04, 2012

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Full version of Gov. Christie's comment, quoted above:
"As a kid who was born and raised in this state and who spent a lot of time over my life, both my childhood and my adult life, at the Jersey Shore, we'll rebuild it," he said. "No question in my mind we'll rebuild it."
The text about putting away childish things does not seem to have occurred to him.
A surprisingly practical economics-based response in BloombergBusinessWeek: here:http://www.businessweek.com/articles/2012-11-01/hey-chris-christie-dont-rebuild-in-harms-way
Then again, Mayor Bloomberg has announced that readying for climate change should now be part of urban planning. Then again, his administration has promoted waterfront development in New York City, as noted in this story, which indicates that the Christie Doctrine does face doubters:
http://www.nytimes.com/2012/11/04/nyregion/after-getting-back-to-normal-the-big-job-is-to-face-a-new-reality.html?pagewanted=all&_r=0
So perhaps there is a point at which short-sightedness becomes too expensive? One would like to hope so.

Don't overlook the role of the banking industry in this as well. Pumping up the valuations of coastal properties so they can carry profitable (to the banks) debt is one of the cornerstones of the financial system.

I wrote an entry here (http://worldcomplex.blogspot.com/2012/04/natural-and-keynesian-disasters.html) which was more about the relationship between declared disasters, tornadoes, and urban sprawl, but the argument is similar.

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